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WEST VIRGINIA'S FIRSTBANK SHINNSTON

 PITTSBURGH, Jan. 25 /PRNewswire/ -- James D. Roy, president of the Federal Home Loan Bank of Pittsburgh, announced today that FirstBank Shinnston has become a stockholder of the bank.
 FirstBank is a subsidiary of First Fidelity Bancorp, Inc. (NASDAQ: FFWV), a bank holding company headquartered in Fairmont, W.Va.
 "We are delighted to have FirstBank join a growing number of stockholders in our bank," said Roy. "FirstBank is a welcome addition, as a solid and competitive financial institution that has a strong commitment to the community." Roy continued, "The Federal Home Loan Bank has been aggressively recruiting new stockholders. Our efforts have paid off, and we currently have 314 members, including 137 commercial banks."
 Commenting on the benefits institutions receive as a result of their membership, Roy said, "Access to Triple-A-rated term funds and low cost financing for community investment are among the top competitive advantages the bank offers to its stockholders."
 FirstBank Shinnston is a commercial bank located in Shinnston, W.Va. It has three branch offices. As of Dec. 31, 1992, FirstBank had assets of more than $76 million. Its real estate loans and securities amounted to more than $35 million or 46 percent of total assets. Total deposits were $68 million. FirstBank is a subsidiary of First Fidelity Bancorp, Inc., a $306 million holding company located in Fairmont. Besides FirstBank, First Fidelity Bancorp has three other subsidiaries, including First National Bank in Fairmont which became a stockholder of the Federal Home Loan Bank last year.
 Frank K. Abruzzino, president and chief executive officer of FirstBank, said, "We were impressed with the many competitive advantages that membership in the Federal Home Loan Bank provides. Many West Virginia banks are discovering the Federal Home Loan Bank and are finding ways to incorporate their products and services into their lending operations." Abruzzino continued, "Forl Home Loan Bank of Pittsburgh is part of the Federal Home Loan Bank system, a national network of 12 regional, stockholder-owned banks, created by the U.S. Congress in 1932 to promote home finance. The bank's economical funding, operating and advisory services are available to all financial institutions engaged in residential mortgage financing, including savings institutions, commercial banks, credit unions and insurance companies. The bank serves the states of Delaware, Pennsylvania and West Virginia. At Sept. 30, 1992, the bank had assets of $10.6 billion.
 -0- 1/25/93
 /CONTACT: Rosemary A. Abendroth of Federal Home Loan Bank of Pittsburgh, 412-288-2830/
 (FFWV)


CO: Federal Home Loan Bank of Pittsburgh; FirstBank Shinnston; First
 Fidelity Bancorp, Inc. ST: West Virginia, Pennsylvania IN: FIN SU:


CD-LJ -- PG002 -- 8263 01/25/93 08:39 EST
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Publication:PR Newswire
Date:Jan 25, 1993
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